Prediction Market Kalshi Signals It Sees CFTC's Blessing for Midterm Election Bets

A countdown clock on its website ends today, indicating the service is optimistic regulators will let it offer contracts for the Nov. 8 election.

AccessTimeIconOct 28, 2022 at 3:56 p.m. UTC
Updated Jun 26, 2023 at 3:34 p.m. UTC
Drive the Crypto Policy Conversation Forward
October 24, 2023 • Convene • Washington D.C.Where the industry establishes the digital economy’s legal, regulatory and compliance best practices for the future.Register Now

Prediction market Kalshi is hinting strongly Friday that it expects U.S. regulators to approve its request to debut contracts linked to the Nov. 8 U.S. election.

At the top of its homepage, under the heading "Countdown to election markets," there's a clock counting down to midnight in the U.S. There is a caveat, though: a note saying "Pending regulatory approval."

Kalshi, unlike some alternatives, has taken a cautious approach to launching its service and introducing contracts, working closely with the U.S. Commodity Futures Trading Commission (CFTC) to get permission. An ex-CFTC commissioner, Brian Quintenz, is on its board.

Others have struggled to remain available for Americans. PredictIt, another prediction market, was told by the CFTC earlier this year to wind down its U.S. operations, though PredictIt has filed a lawsuit to overturn that decision. Polymarket, whose engine is a blockchain, is also barred from doing business in the U.S.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Nick Baker

Nick Baker is CoinDesk’s deputy editor-in-chief. He owns less than $1,000 combined of BTC and ETH.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.